February 2, 2013

High-End Gifts Threaten China's Regime

Crony capitalism often means those with the best connections in the Party rule over those with the best ideas, hindering China’s ambitions to become an innovation culture. Close China watchers say the companies have been adept at copying Western technology but have had a hard time improving upon it. Much of China’s success was built on its reputation as the workshop of the world, accountable for one fifth of global manufacturing, thanks in large part to its cheap wages.

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